‘Massive’ breach threatens MasterCard, Visa cardholders

MasterCard and Visa are alerting law enforcement agencies and card issuers such as banks and retailers that a major third-party card processor’s system has been breached and cardholders’ account information may be at risk of being compromised.

The Wall Street Journal identified the credit and debit card processor as Global Payments Inc.

According to the blog KrebsonSecurity.com, which first reported the data thefts, the breach is “massive” and could expose the account information of 10 million MasterCard and Visa customers.

Neither company would say how many cardholders, financial institutions or retailers are potentially affected by the breach.

KrebsonSecurity.com said the breach occurred between Jan. 21 and Feb. 25 and that the customer information obtained could be used to create counterfeit new credit cards.

[A]ffected banks are now starting to analyze transaction data on the compromised cards, in hopes of finding a common point of purchase. Sources at two different major financial institutions said the transactions that most of the cards they analyzed seem to have in common are that they were used in parking garages in and around the New York City area.

Both MasterCard and Visa, which also process cards for banks, retailers and other card issuers, have said their systems have not been compromised.

“Visa Inc. is aware of a potential data compromise incident at a third party entity affecting card account information from all major card brands. There has been no breach of Visa systems, including its core processing network VisaNet,” Visa said in a statement.

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WTF

March 30th, 2012
1:45 pm

thanks mc & visa

John Abraham's Groin

March 30th, 2012
1:51 pm

Lets talk about something important, like how my groin still hurts.

FlaAJCreader

March 30th, 2012
2:02 pm

We got a call from Etrade telling us “our Visa had been compromised” and they are cancelling the current card (which we just received a month ago after yet another similar situation) and sending another. Wont get it until Monday. Good thing we are not travelling…but also glad they are taking the initiative…

Cornerback Smurf

March 30th, 2012
2:07 pm

@JohnAbraham’s Groin – you aren’t the only one with issues! I’m way too small to keep up this charade at Cornerback and eventually I’ll be exposed. I guess I pulled a fast one on Falcons’ brass though with the Franchise Tag thingamajig.

JJ

March 30th, 2012
2:19 pm

Reasons number 1-5 why I DON”T have any credit cards. Your identity cannot be breached with cash.

Just my two cents

March 30th, 2012
2:27 pm

@JJ They MC and Visa logo is also on debit cards as well and is stated in the article that debit cards along with credit cards are affected. So, not having a credit card does not spare you from this one.

Grimey

March 30th, 2012
2:30 pm

Cornerback Smurf, what games have you been watching? Brent Grimes is a ballplayer! And a ball-hawk which is what we need. Refocus your energy on calling out Dunta “ever make a play” Robinson. He has already been exposed.

DD

March 30th, 2012
2:34 pm

And it had to happen on National Cleavage Day…..

ronald

March 30th, 2012
2:43 pm

This is how Obama had planned to pay for that Universal Health Care that 75% of the country didn’t want.

Mountain Man

March 30th, 2012
2:58 pm

@ Just my two cents. I think JJ was just saying that his $20 bills and likely other denominations don’t have the Visa or MC logos on them. At least not yet.

Lisa

March 30th, 2012
2:59 pm

The Coca-Cola Family Federal Credit Union announced last month that laptops were missing from their office that contained credit card and banking data for all customers. They had to replace my credit card and paid for a year’s free credit monitoring with another service.

ACE

March 30th, 2012
3:01 pm

@justmytwocents-I think we he said cash he actually means cash, just saying

Banker

March 30th, 2012
3:28 pm

All VISA and MC cards have ZERO LIABILITY on their cards so everyone is protected. If you see fraud, just call the bank and they will credit your account. You are more likely to have your cash stolen then be stuck paying for fraudulent transactions from your bank account. Using cards are safer then using cash and checks…just saying…

JM

March 30th, 2012
3:50 pm

maybe cash transactions are not as bad as we think.

Warrior Woman

March 30th, 2012
4:30 pm

@WTF – Why are you blaming MC and VISA? They didn’t do this. Global Payments is the source of the problem.

Default Settings 2.0

March 30th, 2012
5:25 pm

Sounds like one big national garnishment!

John Abraham's Loin

March 30th, 2012
6:48 pm

How many times has John Abraham’s groin been surgically repaired?

Cornerback Smurf

March 30th, 2012
7:26 pm

@Grimey – I’ve got some land down in South Florida for a real steal. You seem the be the type that can be easily sold.

Grimes has skills but he’s nowhere near worth $10M. If you believe that then please let’s talk about that land.

Global Payments Insider

March 30th, 2012
9:55 pm

This company has a history of poor security practices.

Nobama

April 3rd, 2012
9:26 am

1%er’s use Amex and pay it off every month.